MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in The Boeing Company $BA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in The Boeing Company by 13.9% during the first quarter, now owning 83,934 shares valued at $14.31 million.
• Multiple hedge funds have also made significant investments, with Zimmer Partners LP and Sculptor Capital LP purchasing new stakes worth approximately $393.7 million and $265.5 million respectively in the fourth quarter.
• Boeing's recent quarter earnings showed a 34.9% increase in revenue year-over-year despite an EPS miss at ($1.24), falling short of analysts' estimates of ($0.92).

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,934 shares of the aircraft producer's stock after buying an additional 10,262 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Boeing were worth $14,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestcor Inc grew its position in shares of Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after buying an additional 1,195 shares in the last quarter. National Pension Service grew its position in shares of Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after buying an additional 218,049 shares in the last quarter. Wynn Capital LLC acquired a new position in shares of Boeing during the first quarter worth about $584,000. Zimmer Partners LP acquired a new position in Boeing in the fourth quarter valued at approximately $393,736,000. Finally, MFG Wealth Management Inc. acquired a new position in Boeing in the first quarter valued at approximately $2,125,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Boeing Price Performance

Shares of BA stock traded down $3.87 during trading hours on Friday, hitting $216.12. The stock had a trading volume of 11,078,950 shares, compared to its average volume of 6,130,396. The firm has a market capitalization of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock's 50 day moving average is $228.76 and its 200 day moving average is $199.39.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The company's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.90) earnings per share. As a group, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BA. Jefferies Financial Group upped their price target on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. UBS Group set a $280.00 price target on Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.